28 Nov '16, 6pm

The Secret, Dangerous World of Venezuelan Bitcoin Mining

Embaroes are stupid ideas, whether imposed on others or self-imposed. The People need to have something to lose in order to maintain order, and by removing that, the best and brightest flee and the rest riot and pillage. When we impose controls on other countries, terrorism and other kinds of warfare increase. The same is true when it's done by one's own government at home. Bitcoin mining is providing some friction reduction to society not only by employing young men and keeping them off the streets, but by offering a non-violent way of trading goods to others in the system. Piracy and smuggling have become less violent than they used to be, at least until the government escalates to the next level. Bitcoin is more of a black-market exchange than it is money. It is not a store of value. There is nothing to stop some new and improved Bytecoin or Cybermoney from causing Bitc...

Full article: https://reason.com/archives/2016/11/28/the-secret-dangero...

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